Feeds

Siemens to sell mobile phone biz to China - report

Chinese distributor lined up as 'potential buyer'

  • alert
  • submit to reddit

Beginner's guide to SSL certificates

Is Germany's Siemens about to do an IBM and flog off a loss-making hardware division to the Chinese?

German newspaper the Frankfurter Allgemeine Sonntagszeitung think so, yesterday reporting on allegations from unnamed company sources that Siemens is pushing through the sale of its mobile phone business. It has already lined up Chinese phone company Ningbo Bird, which distributes Siemens handsets in China, as a potential buyer, the paper claimed.

Siemens' mobile phone operation lost €141m ($187m) in the three months to 30 September 2004, the fourth quarter of the company's 2004 fiscal year. Phone sales totalled €1.25bn ($1.65bn), the same as the year-ago quarter, which then yielded a €14m ($18.5m) profit.

Siemens as a whole saw Q4 sales rise five per cent year on year to €20.83bn ($27.52bn). Net income for the quarter was €654m ($864.1m).

A company spokesman said that no decision had been made on the mobile phone division's sale, but admitted that the company was "looking at all the options".

Last week, IBM announced it was selling its PC division to Chinese computer company Lenovo for $1.25bn. ®

Related stories

IBM sells PC biz to China
IBM CEO's memo clarifies PC biz sell-off
Samsung phones outsell Motorola's
Americas lead booming mobile phone biz
Chinese 3G may follow Europe
Samsung creeps up on Motorola
World mobile phone shipments up 25%

Beginner's guide to SSL certificates

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
Microsoft EU warns: If you have ties to the US, Feds can get your data
European corps can't afford to get complacent while American Big Biz battles Uncle Sam
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.